Apple posted revenue of $54.5 billion in its fiscal first quarter, up from $46.33 billion a year earlier but below analysts' forecasts of $54.73 billion. It earned $13.81 a share, down from $13.87 a year earlier; analysts were looking for $13.47.

Apple sold 47.8 million iPhones during the quarter, up from 37 million a year earlier.

Netflix(NFLX) gained 2 million video-streaming subscribers in the U.S. during the fourth quarter, and posted a profit of $8 million during a period when analysts were expecting a loss.

Software giant Microsoft(MSFT) is expected by analysts Thursday to report fiscal second-quarter earnings of 75 cents a share on revenue of $21.6 billion.

3M(MMM) is expected by analysts Thursday to post fourth-quarter earnings of $1.41 a share on revenue of $7.18 billion.

Shipping giant UPS(UPS) is expected by analysts Thursday to post quarterly earnings of $1.38 a share on revenue of $14.44 billion.